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Required information [The following information applies to the questions displayed below.) In January, Tongo, Inc., a branding consultant, had the following transactions. a. Received

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Required information [The following information applies to the questions displayed below.) In January, Tongo, Inc., a branding consultant, had the following transactions. a. Received $9,500 cash for consulting services rendered in January. b. Issued common stock to investors for $10,000 cash. c. Purchased $12,000 of equipment, paying 25 percent in cash and owing the rest on a note due in 2 years. d. Received $7,500 cash for consulting services to be performed in February. e. Bought and received $1,000 of supplies on account. f Received utility bill for January for $1,250, due February 15. g. Consulted for customers in January for fees totaling $15,900, due in February. h. Received $12,000 cash for consulting services rendered in December. Paid $500 toward supplies purchased in (e). Post the effects to the appropriate T-accounts. Jan 1 Cash 10,000 Account Receivable Jan 11 12.500 Jan 31 10,000 Jan 31 12,500

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